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US Sanctions Two Mumbai Firms Over Iran Oil Trade

The United States on Thursday imposed sanctions on two Mumbai-based companies and five Indian nationals over alleged trade in petroleum products from Iran. The action is part of Washington’s Operation Economic Outcast.

The US Department of State targeted SSPL Solutions Private Limited and Samudra Marine Services Private Limited. It accused them of facilitating Iranian petroleum imports and channelling millions of dollars to Tehran.

Five individuals were also named: Dhwani Vora and Nisarg Vora of SSPL Solutions, and Ketan Kochikar, Bhupendrasingh Sahu and Harishyam Hariharan Chundakattil of Samudra Marine Services. They are blocked from transactions linked to the firms.

The wider action covers ten entities, six individuals and five vessels linked to Iranian oil and petrochemical trade. The sanctions come as the US steps up pressure on Iran’s energy revenues during the eighth month of their war.

Under the sanctions, any assets of the listed firms and individuals in the United States are frozen, and US persons are generally barred from transactions with them. Indian officials have not yet publicly responded to the designations.

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